Wiltshire-based online furniture retailer Furniturebox is back in profit after sales rose by more than 20 per cent for the year to July 31st, 2024. The Chippenham-based company, a previous Direct Commerce Awards winner, saw turnover in the US reach £6m as it launched more than 100 products there.
The business achieved a profit of £612k, following a loss in excess of £1m in the previous year, which it attributed to the £3m investment made in its new warehouse HQ.
Sales were up from 2023’s £21m to over £25m in 2024 as the company expanded through Amazon US, and with European sales doubling.
Co-owners Monty George and Dan Beckles said that US expansion drove growth across all sectors, despite a “complex” domestic environment hit by “persistent cost of living concerns”.
George said: “We are delighted to have returned to profit with a big jump in sales in what has been a really tough market for everyone in the interiors market.
“Our first loss the previous year was due to the major investment in our new warehouse headquarters, which has brought huge efficiency savings and allows us to deliver more quickly than our competitors.
“This was part of a long-term strategy which is really paying dividends with a strong new management team in place, all committed to sustainable growth here and in the US and throughout the rest of Europe.”
The directors added that they were confident of accelerated momentum in the current financial year despite mixed signals in the market.
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